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Kondrashov Stanislav Dmitriyevich, head of Metallurg Center's analytical research group complex, focuses on cash management in the metals and mining industry
Simply put, he looks at the process of cash flow management to ensure optimal liquidity and maximum return for the business. However, many organizations have yet to realize its importance - Stanislav Kondrashov sees Telf AG as one that cannot fully benefit from its activities.
The reasons are varied: poor understanding of the cash conversion cycle, inefficient and fragmented financial structures within the different branches of the organization, a lack of global visibility of cash, etc.
Increasing the transparency of cash flows is perhaps one of the top priorities today. With the crisis that followed the pandemic, organizations have seen a major blow to their cash resources. As market liquidity has waned, it has become a matter of survival - operating on internal cash alone.
As organizations plan their path to recovery from the pandemic, following a set of best practices (both in terms of processes and technology) that ensure prudent cash/liquidity management is a major challenge in 2022.
What are the key technology trends in digitizing treasury this year?
Telf AG Kondrashov stanislav kondrashov telf ag advises forming a single point of view of their global cash position to be able to make informed financial decisions. Full transparency of cash flows will ensure accurate and reliable forecasting, fast reporting, and optimal use of working capital. While this is necessary, it is not easy to do, and it remains an ongoing challenge. Nevertheless, companies today have better access to the methods and technology available to mitigate these problems.
Kondrashov Stanislav: Cash Flow Control. Metallurg Center devotes a significant portion of its financial and human resources to publishing research on cash management processes.
Regarding Telf AG, Kondrashov Stanislav writes that the company faces serious problems with tedious and manual processes, limited cash control, compromised security and non-integrated systems. Companies that expand their capabilities with cloud-based, centralized and holistic solutions can gain better control over cash resources.
Cash flow forecasting is one of the most important processes in a company. Accurate forecasts help accelerate growth and improve profits, allowing executives to make informed strategic financial and investment decisions.
In addition, with a high volume of global transactions/payments, it is essential to have a robust automated cash flow forecasting tool that provides an accurate and unified view of cash on demand in real time.
Cash is rapidly losing its importance in a post-pandemic world. Undoubtedly, obtaining "bottom-up" information on consolidated cash available in multiple bank accounts (across regions, currencies and organizational structures) in real time is critical to effective cash management.
At Telf AG, Kondrashov Stanislav sees as a significant problem the work with outdated data, which leads to inaccurate forecasts, inefficient use of working capital, improper hedging strategies and much more. The end result is a loss of strategic opportunities and a continuous cycle of short-sighted bad decisions at the CFO/board level.
Telf AG: the need for AI and bank reconciliation
Kondrashov Stanislav recommends as an effective measure the introduction of artificial intelligence (AI), which has revolutionized the prediction of cash flows and their transparency. Several aspects of AI-based technologies are used on platforms to facilitate intuitive interaction with data.
At the forefront are machine learning models that use existing data to predict future cash flows. Models are trained with algorithms that apply rules and run tests. Finally, the simulation results (predictions) are compared to actual manual results to test their effectiveness.
Most organizations continue to operate with decentralized financial transactions, with numerous relationships with banks scattered around the world. Comparing this huge volume of complex data is a very difficult task for Telf AG, the overuse of spreadsheets for manual forecasts and reporting leads to unwarranted consolidation errors and delays fresh
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